Bankruptcy

If you are considering declaring bankruptcy, a reasonable concern is how it will impact your other half. You want the decision to have minimal repercussions on your loved one's future. The effect on your spouse depends on various factors, including state laws, the...

Navigating financial challenges can be overwhelming, but understanding the distinctions between Chapter 7 and Chapter 13 bankruptcy can shed light on potential solutions. Both chapters offer relief to individuals facing debt-related difficulties, but they operate in...

The bankruptcy you are eligible for depends on your asset values and income. You have to meet certain requirements to be eligible for Chapter 7 bankruptcy. If you are not eligible for that, you could still file for a Chapter 13 bankruptcy. While you should not take...

Falling into debt is unpleasant, and filing for bankruptcy to get out of it does not feel much better. However, it is a step in the right direction. After filing for bankruptcy, it is important to start forming good financial behaviors and habits to avoid falling back...

When dealing with debt collectors, you may find yourself in some tricky situations. While most debt collectors will approach the situation with integrity, some may still try to cut corners or take illegal actions to get their way. Debt collector misrepresentation is...

Chapter 7 bankruptcy represents an opportunity for people to start over when their finances and debt have become unmanageable. Despite this, AP News reports that fewer than 1% of American households file for bankruptcy each year, likely due to fears surrounding the...

Those in the U.S. have the option of picking from six chapters of bankruptcy, depending on their circumstances. In general, consumers are most familiar with Chapter 7 bankruptcy and Chapter 13 bankruptcy, the most commonly filed ones. There is a third kind individuals...

Because they offer a path toward debt forgiveness, Chapter 7 bankruptcy filings can appeal to many people struggling with the burden of debt. However, in order to qualify for this specific bankruptcy filing, you must pass a test known as the means test. What is the...

When you file for bankruptcy, you can keep certain assets while still qualifying for debt discharge. In New Jersey, you can choose to use either the state or federal property exemptions. If you struggle with mounting debt and live in New Jersey, review the types of...

Personal bankruptcy comes in two types: Chapter 7 and Chapter 13. When deciding on which petition to file, a New Jersey resident may wish to learn more about the requirements for a Chapter 7 bankruptcy.  As noted by Kiplinger magazine, the court may eliminate some...